On August 20–21, 2024, Kuala Lumpur hosted the Russia + ASEAN consultations and meetings of the East Asia Summit. The Russian delegation was led by Nikita Kondratyev, Director of the Department at the Ministry of Economic Development.

➲ Key Results

  • Trade growth: In 2024, trade turnover between Russia and ASEAN countries increased by 5.8%, and since 2015 it has grown by an impressive 70%.
  • Joint projects: The Russia + ASEAN Cooperation Fund has successfully implemented 38 projects in areas such as science, energy, creative industries, and education.

➲ Strategic Priorities for Cooperation

  • Diversification of trade and development of new logistics corridors,
  • Digitalization and advancing the climate agenda,
  • Expansion of tourism and creative economy,
  • Cooperation in mineral resources, ecology, and the circular economy.

➲ Long-Term Strategy

Russia presented a draft "10-year Strategy for Trade and Investment Cooperation" with ASEAN, scheduled for formal adoption in September 2025. This document is expected to become the roadmap for deepening economic ties and ensuring sustainable growth.

➲ Wider Integration: EAEU & ASEAN

Discussions also touched upon Eurasian Economic Union (EAEU) – ASEAN cooperation, including:

  • Digital transformation,
  • Agriculture and food security,
  • High-tech development and innovation exchange.

➲ Russia’s Commitment

Russia reaffirmed its readiness to support the sustainable development of the ASEAN region and emphasized the importance of preserving multilateral trade rules within the WTO framework.

➲ Impact on Business

ASEAN is one of the world’s fastest-growing regions, with a combined GDP exceeding $4 trillion and a population of over 670 million. Strengthening ties with ASEAN is not only about expanding trade flows but also about securing new technology partnerships, joint innovation projects, and shared climate solutions.

For Russian businesses, ASEAN represents diversification of export markets, access to dynamic middle-class consumers, and opportunities in energy, infrastructure, and digital services.

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